Mar 1, 2020

Project No. 2020 Q1 news

Q1, 2020 has ended for implementation of project No. “Experimental production line set up for fabrication of volumetric three-dimensional image display hardware and components to them”.

Current worldwide situation with wide spread of COVID-19 disease has left some negative impacts on the project realisation as well.

Optics inspection system, supplier OptoAlignment (US) has delivered the main parts of the LAS-BT-VIS optics inspection system, but final delivery stage (training) has been put on hold due to travel restrictions.

There has been observed Company turnover drop in Q1, 2020, which lead to less available investment funds, including investments that was supposed to be invested in current project.

Team of lead engineers have announced about necessary changes of list of equipment.

In accordance to all conditions mentioned above HansaMatrix AS has proposed to Central Finance and Contracting Agency to do amendments in project agreement, including the extension of project time schedule.

The project total investment amount is 2.899 million EUR. EU and Latvian government grant amount is 1.015 million EUR. The rest of the project will be financed from the company’s own and bank loan resources.